Question

Imagine yourself as a business owner just before an economic event such as a recession or depression. What impact would

Answer 1

In an economic recession or depression there would me a massive impact. The loss of income would mean you loose money, but also your customers would have less income. In result the customers would be spending much less of their income and not squander what they have. Because of this the price of the goods you sell would have to drop to have any chance of selling your product.

Step-by-step explanation:

If there is an economic recession or depression almost everyone would loose their income or would be much lower. This would mean you as a business owner would loose money, your customers would loose money, and because of the loss of money you also would have to cut prices to make ends meet. Cutting prices would also mean you have to cut your employees pay or lay them off.

Answer 2

I’d be like —> aww hecc my business gonna lose so much customers now I gotta figure out ways to cut costs and I may have to fire some people. Now I have to decrease my prices... stupid economy. I want my good paying customers back ;(